Mumbai Notes

IT discovers Rs 90-cr fraud The Investigation Wing of the Income Tax department last week unearthed a bogus bill scam involving Rs 90 crore....

IT discovers Rs 90-cr fraud

The Investigation Wing of the Income Tax department last week unearthed a bogus bill scam involving Rs 90 crore. The amount involved may actually be closer to Rs 150 crore, sources said.

One of the beneficiaries of the scam is Ahmedabad-based Mardia Chemicals, industry sources said. On information, the department conducted a survey on the main operator who is based in Mumbai.

It was confirmed that he was issuing bogus bills to big companies. The companies used these to siphon off profits and evade tax. The main operator allegedly opened bank accounts in the names of fake companies, and used these names to issue bills to the big companies. The transactions were obviously fake, and Mardia alone has availed of bills worth Rs 90 crore, sources said.

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Department sources however, were unwilling to confirm the names of those involved.

Foreign currency seized at Sahar

Officers of the Air Intelligence Unit of Customs arrested one person and seized US $50,000, equivalent to Rs 20.44 lakh, at the Sahar airport during the first week of June in three different cases.

In the first seizure, the currency was seized from courier mail bags which were cleverly concealed in textile samples and advertising material to be exported to Singapore. Follow up action resulted in a further recovery of US $ 30,000, amount to Rs 12.26 lakh from the office of the courier operator.

One person was arrested in this connection. In another case, Indian currency amounting to Rs 11.75 lakh was seized from Dubai-bound courier mail bags.

Industrialist passes away

David Menezes, vice-chairperson of the Cosme Matais Group of Companies passed away after a brief illness. The CMM group of companies manufactures consumer products like Old Spice and Blue Stratos range of men’s toiletries, Handyplast first aid and Jordan toothbrushes. A press release said Menezes was an active social worker and promoter of arts and culture. He was also responsible for promoting musicaleducation and talent in Goa, added the release.

Nature camp at Matheran

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The World Wide Fund for Nature – India has organised a nature camp at Matheran from June 19-21. Contact on 2075142, 2078105, 2071970.

Ministry of External Affairs spokesperson Randhir Jaiswal

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